News blog
Tristel
- BY: Andrew Hore |
- POSTED: 14/03/2010 |
Tristel continues to grow its revenues and profits helped by greater utilisation of its manufacturing plant.
The infection and contamination control products supplier to the healthcare sector added the Medichem portfolio of products to the group last July. Manufacturing started to be transferred later in the six months to December 2009. The range is still being transferred and plant utilisation rates will improve further.
Overall revenues grew from £3.15m to £4.03m in the six months to December 2009. Profits improved from £469,000 to £656,000.
Tristel is still to see the benefits of the American chlorine dioxide surface products licence awarded to Clorox. China and Russia should be important markets in the near future.
FinnCap forecasts an improvement in profits from £1.3m to £1.5m in 2009-10, rising to £2.3m in 2010-11. The shares are trading on just over 10 times prospective earnings for 2009-10.
The interim dividend was increased 5% to 0.425p a share. Net cash was £814,000 at the end of 2009.
At 60.5p a share, Tristel is valued at £20.1m.
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